The effects of gasoline prices that have doubled in just three years
The effects of gasoline prices that have doubled in just three years will be more evident than ever over the next two years as a parade of more fuel-efficient cars and light trucks reaches American showrooms.
The trend reflects what experts and automakers believe is a permanent change in automotive tastes among Americans stung by $4-plus-a-gallon gasoline while they struggle with rising food prices and declining home values. “I think we’re looking at a permanent shift toward more fuel-efficient vehicles,” said Jeff Schuster, executive director of forecasting for the consumer market research firm J.D. Power and Associates. “Not all of it is permanent - some is temporary due to the economic environment.”